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Peso, inflation seen driving stock market

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Inflation,Seen,Driving

THE peso's performance and inflation data due Wednesday will likely drive the stock market's performance this week, analysts said, with investors also looking to bargain-hunt following recent volatility.

THE peso's performance and inflation data due Wednesday will likely drive the stock market's performance this week, analysts said, with investors also looking to bargain-hunt following recent volatility.The benchmark Philippine Stock Exchange index , which hit an over five-month low last week, recovered some ground on Friday but still ended down 2.82 percent week-on-week at 6,433.10.Luis Limlingan, managing director at Regina Capital Development Corp.

0 percent target, may also weigh on market sentiment,' Tantiangco said.The Bangko Sentral ng Pilipinas on Friday said that inflation could have hit as high as 4.5 percent last month due to power rate hikes, costlier vegetables and a weaker peso.The 3.7- to 4.5-percent estimate released by the central bank still includes the possibility of an easing from April's 3.8 percent, but is skewed toward a breach of the BSP's 2.0- to 4.0-percent target.A result higher than 4.

 

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